Why a proposed remittance tax by US could hurt India

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AFP via Getty Images US President Donald Trump and US Speaker of the House Mike Johnson (R-LA) speak to the press after a House GOP Conference Meeting at the US Capitol in Washington, DC on May 20, 2025. US President Donald Trump rallied Republicans on Capitol Hill Tuesday to back a so-called "big, beautiful bill" that is likely to increase the yawning budget deficit and cut health care for millions of Americans. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images) — Trump is pushing his party to back his “big, beautiful bill”

Tucked deep in Donald Trump’s sprawling “One, Big, Beautiful Bill Act” is a clause that could quietly take billions from money sent abroad.

It proposes a 3.5% tax on…

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